aguiyi:

are u posting from a mobile phone or your hand is stammering

phone

naijababe: Pro02

Bought crude, sl at 9475, reasons, bounce off a previous support and 61.8% fib level of most recent up swing.

That was great! u must have recovered ur 50pips loss by now and added some profits

naijababe:

I expect so, but waiting for the right clue on the 4h tf and daily

tnx, got it.

I expect so, but waiting for the right clue on the 4h tf and daily[/quote]

YOu are gooooooood,how far would it go north??

aguiyi:

are u posting from a mobile phone or your hand is stammering

OMG, see laugh lol

Pro02:

I expect so, but waiting for the right clue on the 4h tf and daily

YOu are gooooooood,how far would it go north??

I am leaving mine to run, potential divergence on the 4H TF

fxbomovi: Hi fellow traders. I really need your advice or suggestion on this issue that has been a concern to me.

Is it better to adjust my stop loss to my entry price when price has moved in my favour? Or is it better to leave the stop loss and allow price to either hit the stop loss or take profit. Your advice will be appreciated. Hi fellow traders. I really need your advice or suggestion on this issue that has been a concern to me.

Is it better to adjust my stop loss to my entry price when price has moved in my favour? Or is it better to leave the stop loss and allow price to either hit the stop loss or take profit. Your advice will be appreciated. Hi fellow traders. I really need your advice or suggestion on this issue that has been a concern to me.

Is it better to adjust my stop loss to my entry price when price has moved in my favour? Or is it better to leave the stop loss and allow price to either hit the stop loss or take profit. Your advice will be appreciated.

It depends on your style of trading.

Scalpers go for 10pips or less and such aggressive trading requires aggressive stop loss modification which most times may be difficult to do. I explained somewhere on this forum in 2008 on how to place a stop loss.

Toks2008: Hi Everyone,

I got a mail from someone asking me to enlighten him about using stop loss order.

The fact is that many traders are very fearful in this aspect due to many instances where there stop loss level is continuosly hit before the price action goes in their anticipated direction.

You can't really do anything about this since price action in currencies have a crazy way of moving but you can reduce the chance of this happening.

USING STOP LOSS ORDER EFFECTIVELY

The first question you should ask yourself is this: What type of trader am i? A scalper, a day trader, a swing trader or position trader.

The type of trader you are will have great impact on how you use stop loss orders.

1. SCALPER: If your intention is to get a little pips here and there then leave the trade then you need to set your stop loss in relation to the time frame.

2. If you are a swing trader then you should be able to know the support and resistance points then set your stop loss 5pips above resistance if selling and 5pips below support if buying. and This goes for position traders too.

3. Day trader open trdaes and closes same day hoping to get the best from the trend of that day so your method should be a trail stop.

But where exactly should you set your stop loss

This question is very tactical and before i answer this question, i would like to advice that you try all you can to avoid impulsive trading(Placing a trade by instant execution). You see a chart and it seems a trade is going bullish and you enter long immediately and price starts reversing.

If you are this type of trader then you should be ready to have your stop loss order getting hit over and over again.

You should also plan your trade such that you place only pending buy or sell orders so that the price action picks your order and not you chasing price action.

So any time you place an order, whether you are scalping,daytrading, swing trading or position trading, inrrespective of the time frame you are using, always check the candle stick or bar that picked the trade you placed.

If you placed a buy stop place your stop loss 5 pips below the low of the previous candle to the that picked the trade and above the high of the candle if its a sell stop.

It now depends on you to trail your stop or leave it. If your stop loss is hit,then you are very sure that the price action has reversed for good(At least for a long time to come if it will ever reverse back).

But if you decide to trail your stop loss, always trail it buy shifting the stop loss to 5pips above or below the most recent candle towards your present price level.

For instance you are using 1hr chaty and you placed a sell stop at 7.00am, the 8a.m candle stick picked the trade, put your stop loss 5pips above the high of the 8am candle stick.

At the end of 8a.m candle, you may be fearful that the price may reverse but you don't have to since the price action picked the trade itself so at leat it should continue for some time so you wait for 9am candle and at by 10am you are fortunate that the stop loss you placed is still intact,simply shift your stop loss 5pips above the high of 9am candle and watch for another hour.

So this applies to all time frame even i minute but note that reversal on a lower time frame might just be a correction on a larger time frame so its up to you the time frame you use.

By this method you are sure to get the best from the trend of the day.

Have a lovely trading experience.

Hope this helps

so my aud usd trade is doin fine..spotted d head nd shoulder pattern on daily chart..neck line at .430 breach last friday.. targetting .250 for me... for d cable..we av a previous resistance expected to b a support nw nd propel gbp northwards..nw in..buy gbpusd @ 1.5760 tp 1.5860 sl..1.57

nolly042:
this position remains for me reason my sma both on 1hr and 4hr says theirs is still space for a down move and the last 4hr candle says alot to me about the bears for the dollar pairs

thank God it played out as planed.

aguiyi:

are u posting from a mobile phone or your hand is stammering

some guys on this thread can be really funny

missed some 60 pips worth of signals on EU and USDCHF, nice 30 pips breakouts each, while i was asleep, only one of my pending orders was triggered as pipsraker just raked in what it saw stopped me out on 15 pips with each giving 30 pips with, my VPS service active
hope today is more active, than yesterday

Gbp seem strong this morning. Good to buy.

Trades for today
Gu sell
EU sell
AU sell
UC buy
EJ sell
UJ buy

target 30-50pips each
entry below pivots

We are still very much in he tbears territory so traders should still wait to sell as euro may make an intraday retest of res levels 12495/12507/12526 which are good price points to sell back.

Happy pipping

rozayx5:

some guys on this thread can be really funny

missed some 60 pips worth of signals on EU and USDCHF, nice 30 pips breakouts each, while i was asleep, only one of my pending orders was triggered as pipsraker just raked in what it saw stopped me out on 15 pips with each giving 30 pips with, my VPS service active
hope today is more active, than yesterday

your chart is getting complex and taking different look every day...which one is pip magnet again?...i beg carry ur boyz along ooo!!!...

FEMI OLA:

your chart is getting complex and taking different look every day...which one is pip magnet again?...i beg carry ur boyz along ooo!!!...

its Abacha's Structural Adjustment program (SAP)
mine is just Pip Adjustment Program (PAP)

Its just some research going in the lab, trying to create the "Mega System" which will satisfy me

honeric01: Trades for today
Gu sell
EU sell
AU sell
UC buy
EJ sell
UJ buy

target 30-50pips each
entry below pivots

EU sell and UC sell are we running similar here
too late on my side to enter waiting for another signal

rozayx5:

its Abacha's Structural Adjustment program (SAP)
mine is just Pip Adjustment Program (PAP)

Its just some research going in the lab, trying to create the "Mega System" which will satisfy me


EU sell and UC sell are we running similar here
too late on my side to enter waiting for another signal

Abacha or babangida?
You can enter now.




Although market has hit our minimum target and our 2-week context has been completed, it is still possible due to some specified reasons to see move to 1.2340-1.2380 area:

http://www.forexpeacearmy.com/forex-forum/sive-morten-analysis/21283-eur-usd-daily-video-august-28-2012-a.html

A Little Thought As We March On

Sometime, you won't know how close is you to success... especially when you work very hard, see no result and think to give up at last...

The reason why I love this picture the most is to remind everyone of us NOT TO GIVE UP if you really have passion on the thing you are doing right now.. Believe in yourself.. If want it bad enough you will push through and come out the other side a better person as long as you don’t give up.

You will realise you will never know when you have close to success

just went short on EUR/JPY at 98.43 tp 97.27

The fear of oiel is the .........
_{sumbodi please help me complete it ooo before i looose my mind ooo}

Pro02: The fear of oiel is the .........
_{sumbodi please help me complete it ooo before i looose my mind ooo}

What have you done now?

honeric01:

Abacha or babangida?
You can enter now.




Although market has hit our minimum target and our 2-week context has been completed, it is still possible due to some specified reasons to see move to 1.2340-1.2380 area:

http://www.forexpeacearmy.com/forex-forum/sive-morten-analysis/21283-eur-usd-daily-video-august-28-2012-a.html

I hope you did not enter those trades , got my counter alerts and smiling wide, I never trade my system after the signals have gone more than 20 pips

rozayx5:

its Abacha's Structural Adjustment program (SAP)
mine is just Pip Adjustment Program (PAP)

Its just some research going in the lab, trying to create the "Mega System" which will satisfy me


EU sell and UC sell are we running similar here
too late on my side to enter waiting for another signal

signal came and the pips followed
Trading has never been easier

just went short on AUD/USD at 1.0373 tp.0280
short nzd/usd .8076 tp .8036

na wao. see as ej trade one fall my hand

rozayx5:

I hope you did not enter those trades , got my counter alerts and smiling wide, I never trade my system after the signals have gone more than 20 pips

I did o.. and my STOPS dey look me for face already.

Either am confuse or the market is!!!

Do i need help?

honeric01:

I did o.. and my STOPS dey look me for face already.

sorry, just adjust well and make sure your system detects signals early, if it does, just avoid entering when that trend has exhausted, my indicators had shown that the EU sell was getting exhausted, i have closed both EU and UC trades for clean 50 pips from both

Ogboraph: ALERT ALERT ALERT BuyEURUSD@1.25098-1.25108 ,TP @1.25893, SL@1.24817 buy me i buy at 1.24800 just as the pinbar on 4hr close

OGB my man, how far nah, been a long time

rozayx5:

sorry, just adjust well and make sure your system detects signals early, if it does, just avoid entering when that trend has exhausted, my indicators had shown that the EU sell was getting exhausted, i have closed both EU and UC trades for clean 50 pips from both

Well market can be like this sometimes sha.